morris
Member of DD Central
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Post by morris on Jul 9, 2024 10:26:34 GMT
A second charge on a property next week at a higher rate. Is CP Capital dead?
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firedog
Member of DD Central
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Post by firedog on Jul 9, 2024 10:37:16 GMT
That's an interesting development. I wonder how it will work in practice – surely won't be picked up by auto invest which bills itself as offering returns 'backed by first legal charge'
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Jul 9, 2024 12:13:13 GMT
It looks like the same property has another first charge tranche scheduled for later in n the month as well.
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Post by Ace on Jul 9, 2024 13:20:06 GMT
I assumed that it was just advertising the fact that a new CP Capital loan was scheduled. There's no way that they would use CP funds to fill a CP Capital second charge loan.
There have been quite a few million pounds paid/repaid in capital and interest over the past week or so with very few new loans, so I doubt they will have any trouble filling new ones.
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morris
Member of DD Central
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Post by morris on Jul 9, 2024 13:44:04 GMT
It doesn't show on the CP Capital website and the rate of interest is lower than normally applies for a second charge. If it is being raised through CP Capital does the usual minimum subscription apply.
I am sure all will be revealed in due course.
I also see that this loan is being launched next Monday.
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Post by scrumper on Jul 9, 2024 14:31:56 GMT
I think most CP Capital loans have been around 15%.
I have a feeling this is another CP/CP Capital website cock up.
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Post by Ace on Jul 10, 2024 13:44:08 GMT
Now listed at 18% and it's being funded on the same day as the first charge loan.
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Post by scrumper on Jul 10, 2024 16:22:39 GMT
Now listed at 18% and it's being funded on the same day as the first charge loan. Now listed as 12 o'clock the day after. 12 o'clock is the time CP Capital loans usually go live. Isn't there more than one active project on Arran?
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Post by Ace on Jul 10, 2024 16:32:08 GMT
Now listed at 18% and it's being funded on the same day as the first charge loan. Now listed as 12 o'clock the day after. 12 o'clock is the time CP Capital loans usually go live. Isn't there more than one active project on Arran? Yes, but the other one is way past phase 2.
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Post by Ace on Jul 10, 2024 16:38:40 GMT
Now listed as 12 o'clock the day after. 12 o'clock is the time CP Capital loans usually go live. Isn't there more than one active project on Arran? Yes, but the other one is way past phase 2. Seems odd that the second charge loan is for 6 months, while the first charge is 12 months.
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Post by scrumper on Jul 10, 2024 17:04:59 GMT
Just received an email about it launching on CP Capital
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Post by Ace on Jul 10, 2024 17:25:49 GMT
Just received an email about it launching on CP Capital Yes, it seems that it is a 2nd charge loan to the Arran project that has already had 5 1st charge phases. It's the second phase of the second charge loan. A pure coincidence that the other Arran project is funding in the same week.
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Post by Ace on Jul 15, 2024 11:39:20 GMT
Details for the second charge loan are now available on the CPC platform.
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